Adam Laponis, the Chief Financial Officer of Twist Bioscience Corp (NASDAQ:TWST), recently sold 4,160 shares of the company's common stock. The transaction took place on November 6, 2024, with the shares sold at an average price of $44.605 each, amounting to a total value of $185,556.
Following this transaction, Laponis holds 89,237 shares of Twist Bioscience. It's important to note that the shares sold were withheld by the issuer to satisfy Laponis's tax obligations related to the vesting of certain performance stock units.
In other recent news, Twist Bioscience has secured a $15 million capital boost from an agreement with XOMA Royalty Corporation, which will receive a portion of future milestone and royalty payments from Twist's existing collaborations. Notably, Twist Bioscience reported a 28% year-over-year increase in revenue for the fiscal third quarter of 2024, totaling $81.5 million. The company's gross margin also improved to 43.3%, aiming to exceed 50% by the end of fiscal 2025. Additionally, Baird maintained its Outperform rating on Twist Bioscience, citing consistent demand for the company's Express Genes service.
Twist Bioscience also announced personnel changes, with James Thorburn transitioning to a Strategic Advisor role and Mike Fero, Ph.D., appointed as the new Chief Information Officer. The company has expanded its DNA synthesis capabilities, now offering gene fragments up to 5.0 kilobases in length. In partnership with bitBiome Inc., Twist Bioscience launched a Transaminase Enzyme Screening Kit, contributing to more environmentally friendly methods for synthesizing chiral amines. These are among the recent developments in Twist Bioscience's operations and strategic initiatives.
InvestingPro Insights
Twist Bioscience Corp (NASDAQ:TWST) has been experiencing significant market movements recently, which adds context to the CFO's recent stock transaction. According to InvestingPro data, the company's stock has shown a remarkable 161.61% price total return over the past year, indicating strong investor confidence. This aligns with an InvestingPro Tip highlighting the company's "high return over the last year."
Despite the positive stock performance, it's worth noting that Twist Bioscience is currently operating at a loss. The company's operating income for the last twelve months stands at -$189.94 million, with a negative operating income margin of -64.34%. This is reflected in another InvestingPro Tip stating that "analysts do not anticipate the company will be profitable this year."
However, Twist Bioscience is showing promising revenue growth. The company's revenue for the last twelve months reached $295.21 million, with a robust revenue growth rate of 25.37%. This growth trajectory could be a factor in the stock's recent performance and may explain why the market remains optimistic despite current profitability challenges.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights with 8 more tips available for Twist Bioscience. These tips could provide valuable context for understanding the company's financial health and future prospects in light of recent insider transactions.
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